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Kolkata-based real estate firm Ascon is slated to foray into education sector
India Blooms News Service | @indiablooms | 21 Jan 2019
Kolkata-based real estate firm Ascon is slated to foray into education sector

Laxman Jaiswal, Chairman & Managing Director of  Ascon Infrastructure (India) Limited said that the real estate giant is slated for expansion plans in the education sector with International level facilities bringing new age education with a plus two school tentatively Ascon International School at Hatiara adjacent to City Centre II in Kolkata.

 

Recently  Ascon Infrastructure (India) Limited has expanded its business from the core strength of real estate and housing to Granite manufacturing and exports, and Artificial Intelligence Security. The latest initiative in Rajarhat is to provide International level of education adjacent to Kolkata’s fastest growing eastern corridor, New Town.

 

Ascon International School  to be built over a total area on 157 cottahs land is planned to be affiliated to the ICSE Board modern educational technology which has gained importance in the Indian Education System following K-12 model (an abbreviated term for schooling from the Kindergarten to the 12th grade) covering primary and secondary education.

 

The target population for this segment is from the age group of 3-17 years. Plans of to recruit educationists of National and International experience with convent education background is afoot, he said.

 

Ascon’s educational initiative also has future plan of expanding to start B.Ed courses.

 

 

Ascon Infrastructure (India) Limited intends to ride the growth in the education industry revenue which has grown at nearly 15% pa. The K-12 market is estimated at Rs. 1,655 bn and is expected to grow in the next three years to reach Rs 2,400 bn, on the back of increasing awareness about the importance of education in the country.

 

Private spend is estimated to account for approximately 90% of the total K-12 market size in FY17, which can be attributed to consistent shift towards private schools in India. The entry of corporate and the growing number of institutes under an umbrella brand have revolutionised the concept of K–12 in India.

 

With schools being required to run on ‘not for profit’ motive, the corporates have adopted a two-tier structure, wherein a trust is created to run the school with the company’s subsidiary / management company being the primary revenue earner for the services rendered to the school such as consulting, teacher training etc.

 

Jaiswal hoped to start the process of setting up the school in 2019 and expects for an early finish to their latest foray in education sector. He was very confident that there is a huge scope and possibility in the sector.

 

He believed that traditional value system of Indian education merged with the modern technique and system of education which is globally accepted shall form the backbone of the upcoming Ascon International School.